The wealth management market comprises establishments engaged in planning, advising and managing various kinds of assets. This market covers financial and investment advice, retirement planning and legal or estate planning but excludes accounting and tax services. This market includes brokerage and custodian charges of the firms.
The top five companies covered are Agricultural Bank of China, Wells Fargo, BlackRock, Morgan Stanley and Bank of America. Agricultural Bank of China was the largest company in the market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global wealth management market was valued at around $1 trillion in 2017. North America was the largest region in the wealth management market in 2017, accounting for around 50% market share. USA was the largest country in the market in 2017, accounting for around 49% market share.
Many wealth management companies are investing in big data analytics capabilities to generate insights around clients. Big data solutions are being implemented to deliver insights around client segments, product penetration and analyze training program effectiveness. These technologies are being implemented to assess existing and prospective clients’ inclination to purchase various products and services being offered by a wealth management company, their lifetime value, investment pattern and the ability of the client to take risks.
The wealth management market is segmented into Portfolio Management, Funds, Trusts, and Other Financial Vehicles, and Investment Advice.
Portfolio Management comprises entities primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis. Establishments in this industry have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio.
Funds, Trusts, and Other Financial Vehicles comprises legal entities (i.e., funds, plans, and/or programs) organized to pool securities or other assets on behalf of shareholders or beneficiaries of employee benefit or other trust funds. The portfolios are customized to achieve specific investment characteristics, such as diversification, risk, rate of return, and price volatility.
Investment Advice comprises entities primarily involved in providing customized investment advice to clients on a fee basis. These entities are not involved trading activities. Primary activities performed by establishments in this industry are providing financial planning advice and investment counseling to meet the specific goals and needs of their clients.